One in four EU firms likely to leave China

A survey conducted by the EU Chamber of Commerce in China showed that nearly a quarter of European companies in China are considering shifting their investments out of the country. This is because China still has the strictest Covid-19 lockdowns. According to the survey, the Covid-19 outbreaks and lockdowns dim the outlook for the world's second-largest economy. The survey was conducted at the end of April. At that time, Shanghai was still in shut down and restrictions disrupted business activity. A total of 372 businesses responded to the April survey, down from 620 in February. Of the firms considering a shift in investment, 16% said they were looking at relocating to Southeast Asia, while 18% said they were looking elsewhere in the Asia-Pacific region.